Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0327%/8h= −35.8% APRpaid last 24h −0.001%

Price spread now: BloFin against RISEx−0.167%97s7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.215% of the position

Long on RISEx Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.030%+$3 on $10k

Price spread, last 4 days (all we have)+0.039%+$4 · spread now −0.167%, 7d avg −0.026%

Together, before fees+0.069%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and BloFin is 0.141% cheaper against RISEx than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.026%). Swap the legs. The two prices were read 97 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.030% in total (about 3.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx SOL/USDC	116.63	0.0547	pay 0.0068% / 1h	17m 38s	$2.1M	$4.9M	20x
Short	BloFin SOL-USDT	116.44	0.0220	get 0.0220% / 8h	2h 17m	$51.7M	$68.2M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against RISEx. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee RISExbpFee BloFinbpOrdersPrice spread, now −0.167%Rate

Funding earned: −$68.64
Price spread: −0.167% → −0.026%: −$14.15
Slippage, 4 orders: −$3.51
Fee RISEx: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$104.3
Costs to cover: 0.215%
Break-even: never at this rate

Slippage from RISEx: live order book, 1 min ago; BloFin: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy RISEx live order book, 1 min ago	0.04 bp	3.0 bp −$3	6.6 bp −$66	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	0.43 bp	6.4 bp −$6	6.4 bp −$64	8.5 bp −$854	13.0 bp −$6,514

SOL on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SOLUSD	−0.0240%	1h	116.49	−0.126%	$31.9M	$102.9M	100x	as long as short
Hibachi SOL/USDT-P	−0.0136%	1h	116.29	−0.293%	$104K	$693K	20x	as long as short
BingX SOL-USDC	−0.0112%	8h	116.51	−0.110%	—	$10.6M	—	as long as short
Bybit SOLUSDT	−0.0107%	8h	116.51	−0.108%	$740.9M	$1.43B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.57	−0.059%	$1K	$8K	25x	as long as short
Vest SOL-PERP	−0.0052%	1h	116.51	−0.109%	—	$625K	20x	as long as short
Derive SOL-PERP	−0.0015%	1h	116.41	−0.193%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.48	−0.128%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.50	−0.114%	$1.5M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.48	−0.131%	$113K	$3.7M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX SOL-USD	+0.0009%	1h	116.49	−0.127%	$4.3M	$24.0M	20x	as long as short
01 Exchange SOLUSD	+0.0032%	1h	116.55	−0.073%	$100K	$178K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.49	−0.121%	$7.7M	$405.4M	50x	as long as short
Bitget SOLUSDT	+0.0064%	8h	116.52	−0.098%	$479.5M	$460.2M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0096%	8h	116.50	−0.118%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.48	−0.133%	$13.0M	$61.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.50	−0.117%	$2.2M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.48	−0.135%	$350K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.52	−0.098%	$64K	$912K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.59	−0.037%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.51	−0.107%	$5.2M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.58	−0.047%	$696.5M	$406.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.54	−0.079%	$176.2M	$176.8M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.54	−0.080%	$15.7M	$130.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.55	−0.074%	$972.3M	$3.89B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.52	−0.098%	$364.4M	$1.75B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.40	−0.201%	$216K	$878K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.60	−0.033%	$913K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	115.85	−0.671%	$123.9M	$22.0M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.53	−0.090%	$842.4M	$672.7M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.57	−0.056%	$355.0M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.48	−0.134%	$126.5M	$230.4M	75x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.50	−0.116%	$23.0M	$38.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	115.99	−0.549%	$24.8M	$114.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.07	−0.488%	$93.2M	$407.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.40	−0.200%	$47.7M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.44	−0.164%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.45	−0.158%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.52	−0.098%	$319K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.48	−0.131%	$147K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.46	−0.149%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.49	−0.127%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.48	−0.133%	$6.1M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.34	−0.253%	$225.3M	$50.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.46	−0.150%	$45.3M	$105.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.51	−0.103%	$8.0M	$39.3M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0105%	1h	116.52	−0.098%	$26.3M	$22.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.49	−0.125%	—	$239.4M	500x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	115.66	−0.836%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0179%	1h	116.37	−0.227%	$6.5M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0193%	1h	116.50	−0.119%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDTshort	+0.0220%	8h	116.44	−0.167%	$51.7M	$68.2M	125x
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	116.47	−0.138%	$3.5M	—	200x	as long as short
RISEx SOL/USDClong	+0.0547%	1h	116.63	long leg	$2.1M	$4.9M	20x
Aftermath Perps SOLUSD	+0.0568%	1h	116.10	−0.458%	$25K	$55K	20x	as long as short